Commodities Daily Forecast – January 9, 2019

Colin First
Commodities Technical Analysis

Gold

The $1290 region has turned a bit resistive for the gold market and has pulled back a little during the Tuesday’s session. Overall, the momentum of the market is still positive and pullbacks will continue to be a nice buying opportunity. The 20 & 50 Day EMA below is attracting a lot of interest and the market will find reasons to go higher. Once it breaks above the $1300 level, then it should go towards the $1400 level in the long term. …Read More

Silver

The silver prices pulled back during yesterday’s session, as the $15.50 level offered strong support to the silver market. Such pullbacks will continue to be a nice buying opportunity and will also help the market to gain momentum to continue moving higher. A break above $16 level will help the pair to reach towards the $17 level and above in the long term. …Read More

WTI Crude Oil

The crude oil prices rallied a bit during the Tuesday’s session but the $50 level above is offering too much resistance. The market is expected to struggle and could pull back a little towards the $45 level. A daily close above $50 level will help the market to go much higher. The market will continue to be choppy and break below 20 Day EMA will be bearish. …Read More

Natural Gas

The Natural Gas prices rallied during the Tuesday’s session, breaking above the $3 level as the market continues to be extremely volatile. Overall sentiment continues to be bearish and rallies will continue to be a nice selling opportunity until it crosses above the $3.20 level, which is massively resistive. Underneath, the $2.90 level is massively supportive which extends down to the $2.78 level. …Read More

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